The Federal Reserve raised US interest rates on Tuesday for an 11th straight time, saying Hurricane Katrina will provide only a temporary se...
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The Federal Reserve raised US interest rates on Tuesday for an 11th straight time, saying Hurricane Katrina will provide only a temporary setback to the broad economy. But one policy-maker dissented from the rate-rise vote, saying he preferred to hold rates steady.
Federal Open Market Committee voted 9 to 1 to increase the benchmark federal funds rate — charged on overnight loans between banks and intended to influence credit costs throughout the economy — a quarter of a percentage point to 3.75 per cent. — Reuters
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